The automobile industry is one of the robust and dynamic sectors in the world. Steep competition has sparked the race for energy and road efficient vehicles. New models are subsequently rolled out every other day to meet consumer needs as the old ones sink into an artic oblivion created by insatiable human materialism. Marketers have perfected the art of using promotional strategies to create demand, leading to a world where obtaining a used car isn’t such a bad idea. Below are various reasons to buy a used car and end up with the car you’ve always wanted without any regrets.
Do the depreciation math
People don’t pay attention to the depreciation factor whenever they are torn between buying a new and second-hand vehicle. Note that many of the cars that you see in your local or on the online car mart platforms for used vehicles aren’t that old. The wear and tear on them are usually below 20% of their original value. It follows that most of these cars are 80% new. A car that was originally bought at $10,000 has $8,000 worth of road energy by the time they’re put up for sale as used vehicles. This is a good deal considering that the asking price can be as low as $4,000 simply because it’s a second-hand road machine.
Look at the cost of insurance in the case of a brand new car and then turn your attention that of a used car. You will notice a big difference. Used car insurance premiums are low and easy to process. Most used cars have active accounts with an insurance organization compared to the new ones with no insurance history. There are instances when some of the insurance elements can be dropped. These can be by the national or state policy that guards against dumping of cars in other countries. The cost of dumping can be higher in this age and time when environmental issues are problematic on many fronts.
A couple of decades ago, cars were expected to have a lifespan of several thousands of kilometers. Technology has changed all these. Stronger and better cars that can double the previously anticipated mileage emerge every day. It follows that there are people who dispose of their cars based on the old mileage threshold not knowing that the newer car breeds can cover more. This gives you the advantage to get a better push for your money. People who are aware of this rarely buy brand new cars because they know how to get more out of a used car.
You can process a used car’s registration papers within a day. You are less likely to get investigated for buying a second-hand high-end car model. The story changes when you go for a brand new car because some facts about your taxes and professional work undergo scrutiny. Therefore, if you’ve never known that there are smart reasons to buy a used car, then now you have it.…